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3. Moon Hardware is planning to factor some of its receivables. The cash received will be used to pay for inventory purchases. The factor has

3. Moon Hardware is planning to factor some of its receivables. The cash received will be used to pay for inventory purchases. The factor has indicated that it will require recourse on the sold receivables. Explain to the controller of Moon Hardware what recourse is and how the recourse will be reflected in Moons financial statements after the sale of the receivables.

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